A quitclaim deed is a legal instrument that transfers title of property without any warranties as to the standing of the title. A warranty deed also transfers title of property but promises that the title is clean and that the person granting transfer of the property is the sole and true owner. Quitclaim deeds make no warranty or representation as to the number of owners of the property or the condition of the properties title past or present. Quitclaim deeds are often used as a simple mechanism to convey real estate between affiliated parties such as a husband and wife or a grantor of a trust and the trust the grantor created.
Complete the deed form. All deeds contain the names of the granting party and the receiving party as well as the legal address of the property being conveyed and the purchase price of the transaction. Below this information is space for signatures and notarization. All deeds must be notarized by a notary public to be valid.
Take the deed to the county courthouse. In most counties around the country the county recorder handles all real estate records. The recorder's office will typically require a small filing fee for processing the deed. According to Sandy Gadow of EscrowHelp.com, once the deed has been received by the recorder's office and processed it is said that "constructive notice" has been given, which means that the transaction is now a matter of official public record.
If applicable file a preliminary change in ownership report. Some states require these reports to update the property tax records. While there is a fee associated with filing these reports, most real estate transactions place the burden of paying that fee upon the seller. In most of the cases when a quitclaim deed is used the buying and selling party are closely related so this fee would need to be taken into consideration.
- Most real estate transactions today use a title company and title insurance. Title companies typically file deeds for their clients, but most quitclaim deed transactions don't involve title insurance so the parties to the transaction must complete the filing.
- home sweet home image by easaab from Fotolia.com